BoeFly’s latest iteration of the Franchise Growth Confidence Index was conducted from June 7 – 20, 2024, and reached nearly 700 CEOs, CFOs, and CDOs from a diverse range of franchised brands spanning automotive, education, fitness, health/beauty, home services, restaurant, and retail sectors. Through detailed analysis of survey responses, BoeFly aims to provide valuable insights into the state of franchise growth in the United States.
The survey results reveal a 20 percent drop in whether franchisors are confident in meeting their growth goals for the year. While interest rates and inflation continue to be a major economic concern among franchisors, the percentage of respondents who felt negatively impacted by interest rates has slightly decreased by three percent from the previous quarter to a total of 80 percent.
BoeFly, which reviews responses quarterly, identified the upcoming presidential election as a new influential factor. More than half of respondents, totaling 54.3 percent, reported that uncertainty surrounding the election is negatively affecting their growth projections. It will be interesting to see how the September 10th presidential debate will impact these findings.
For a full report on the Franchise Growth Confidence Index survey findings, visit boefly.com.
